LANXESS expects Q1 2022 to exceed market expectations

· Sales expected to increase by 44% compared to prior-year quarter

· Expected sales of €2.432bn exceed average market expectations by 8.5%

· Growth of EBITDA pre exceptionals of 32% expected compared to prior-year quarter

· Expected EBITDA pre exceptionals of €320Maround 7% above average market expectations

Speciality chemicals company LANXESS expects both EBITDA pre exceptionals and sales for Q1 2022 to be significantly above average market expectations and the prior-year result.EBITDA pre exceptionals for Q1 2022 is expected to be €320M, exceeding average market expectations of €300M by around 7%.Sales for Q1 2022 are expected to be €2.432bn, exceeding average market expectations of €2.241bn by 8.5%.LANXESS CEO Matthias Zachert said: "The realignment of LANXESS is proving its worth, especially in difficult times. Demand for our high-margin specialty chemicals products remains high now. This course makes us less vulnerable to global fluctuations in demand. Nevertheless, given the geopolitical uncertainties, we remain very vigilant for the rest of the year."

In the prior-year quarter, LANXESS achieved sales of €1.693bn and EBITDA pre exceptionals of €242M. The expected sales for the first quarter of 2022 thus represent an increase of 44% over the prior-year quarter; the EBITDA pre exceptionals expected for Q1 2022 is 32% higher than in the prior-year quarter.LANXESS will report its final results for Q1 2022 on May 5, 2022. All figures in this release are preliminary and unaudited.